FREYR Battery Awarded €122 Million EU Grant for Finnish CAM Project

Summary

FREYR Battery, Inc. announced that it has been selected by the European Union Innovation Fund for a €122 million grant to develop a Cathode Active Material manufacturing project in Vaasa, Finland. This grant is aimed at supporting FREYR's industrialization efforts in sustainable battery value chain solutions. The project is expected to be formalized in the 1st quarter of 2025. FREYR continues to work with its partners to further develop the basis for the CAM project.